Deepak Jain, CEO of a Maryland-based IT services firm, has been indicted for fraud and making false statements after allegedly falsifying a Tier 4 data center certification to secure a $10.7 million contract with the US Securities and Exchange Commission (SEC). The charges, filed by the US Department of Justice (DOJ) and made public on Wednesday, claim that Jain and his co-conspirators deceived the SEC by creating a fictitious certifier, “Uptime Council,” to falsely verify his firm’s data center as meeting the highest reliability standards.

Source: ComputerWorld